Trust Administration in CA

Get Help from an Oakland Trust Attorney

Unlike wills, which go through public probate, trusts are private documents
that allow individuals to create specific guidelines for their assets.
But a trust still needs someone to oversee and administer the assets included
in the trust. This includes contacting beneficiaries and other vested
parties, accounting for assets, and investing them when appropriate. Debts
must be paid or serviced, creditors have to be informed, and any tax obligations
have to be met, including filing appropriate forms.

All of these responsibilities and others fall to the trustee. While drawing
up the trust properly is of critical concern during creation, having a
knowledgeable, experienced, and reliable trustee becomes extremely important
to ensure that the trust functions as intended.

Duties of Trustees in the Administration Process

The trustee is ultimately responsible for the proper administration of
the trust. They may need help in meeting their obligations and avoid potential
liability or accusations of mismanagement.

Some of the duties inherent in trust administration are:

To act in the best interests of the beneficiaries by showing loyalty and
neutrality.

To manage assets so they are productive.

To make prudent investments of the assets in the trust.

To keep trust assets separate from other investments and avoid conflicts
of interest.

To keep all parties informed in a timely manner of the status of the trust.

File all necessary paperwork, such as taxes and periodic accountings.

Call on the Law Offices of Steven M. Simrin Today

There are many issues that can arise in trust administration. Trustees
may be uncertain regarding the obligations, disputes may occur between
beneficiaries, and some may even claim the trustee is not properly executing
the trust.

As a CPA and trust administration attorney in Oakland, I have the training
and professional experience to counsel both trustees and beneficiaries
on interpreting trust documents and assessing their respective obligations
and rights.

Get help from an Alameda County attorney who cares.Contact metoday to get started!

The information on this website is for general information purposes only.
Nothing on this site should be taken as legal advice for any individual
case or situation. This information is not intended to create, and receipt
or viewing does not constitute, an attorney-client relationship.